What is the purpose of Key Performance Indicators (KPIs)?
The purpose of Key Performance Indicators (KPIs) is to measure the performance and progress of an organization towards its goals and objectives. KPIs are quantifiable metrics that provide insight into various aspects of a business, such as productivity, profitability, customer satisfaction, and employee performance. These indicators allow businesses to track and evaluate their performance against predefined targets, identify areas of improvement, and make data-driven decisions to drive growth and success. KPIs serve as a tool for management to monitor the effectiveness of strategies and initiatives, align teams towards common goals, and ensure that the desired outcomes are achieved. Overall, KPIs enable organizations to assess their performance, understand their strengths and weaknesses, and take necessary actions to improve and meet their targets.
This mind map was published on 15 November 2023 and has been viewed 46 times.
